Every question is answered
What guarantees are provided to buyers when purchasing off-plan property?
When paying the first payment of 30%, the land is registered on (company) of the buyer. All other payments are made after the completion of construction stages (foundation, first floor, second floor, roof, etc.).
What stages are included in the process of buying property during the construction phase?
a) Making a security deposit/signing a preliminary contract. b) Opening my company or buying my company and changing directors. c) Signing a construction contract and paying 30%. d) Stages of payments (7 pieces). e) Receipt of ownership documents and acceptance.
What are the payment terms when buying property during the construction phase?
1. Non-refundable deposit of 100,000 THB. 2. Advance payment of 30%. 3. Stages of payments (7 pieces) in equal installments, each after the completion of the previous stage of construction.
What happens if construction is delayed or not completed on time?
If construction is delayed, the contract allows for a two-month extension for improvements if needed, under a number of circumstances, including this additional time is allocated for improvements, if the owners are not satisfied with something at acceptance.Penalties for delays can be discussed with the construction company.